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i i i ' i i 1 1 " i i i i t . i 'i i ' . t j
TOWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRIC
HMWiMnaui
FREE ISSUES
r
-UNITED STATES
' LIBERTY LOAN
t , a kin J.
-f ... ,.
NtVLVNlA RAILROAD
60N80LIDATED 4s 104S
NtOLIDATCD 4, I960
QENCRAL 4','jl 196
IMOH A NEW ENGLAND
r n&ll nriAn
Sf QENERAL Et 1M
HILLY, BROCK CO.
W ORNKSRS
-,v.
Ml CHESTNUT STREET
riiii.wi:i.riu.
H ACTIVE CURR TRSTTF.S
PRICES OF MANY LEADING STOCKS
ARE FORCED TO NEW LOW RECORDS
Decline Comes Late in Afternoon Following
Frequent Interval's of Strength and Weak
ness Forced Liquidation Blamed
New York Stock Sales
Arkansas Vallcv Railway
K'. t :i. e. rj
Company
6 Gold Notes
Due July 1, 1919
' f-irrtilar nn renuest
j, ,
Bonbright & Company
Sv UOnRlS 1V1STATI RTnotin. Jr.
fj6 Manacer
'437 Chestnut St.. Philadelphia
tr
New York Iioston Detroit
Iiendon Park, Chliai-o
r
SEABOARD AIR LINE
,,1P Tile outlook for IhU ltroinrty. an.l
fr -nit fwpecially for the junior -eturttleM of
m v ith system, I diwcui...., in . - iul
ljL, Knalynl- we hnve recently inHlled to
f urciieni. a rfw ex. iu,.t-r. nra
. .available to Inquirer who are Inter
A ented In our service. Henrt 3 In
Aj iltrnfM fnp i-lfciilnt- N'n "111.
. ,;. ....
MOODY'S INVESTORS SERVICE
(Sr
John Moody, Pre.
.KViuall St. Tel. 317.1.4 Cort. New TnrL.
Lt'"Wi-
Sf-il
The Language of
j contains many words and ex
, press'.ons that should be thor
,OUhly understood by every
reader or financial news.
Write for a ne- Itooklet that defines
. oier jsi troms and termi voninioul)
0 d 111 til" sl-sk market,
J Scud or HvohUt.Ml T,V.
JONES & BAKER
l nllll K lllttlKKKH
Wtdener Lids., Philadelphia
V It'll. Vla.nut 1UUO.I.
Ke)atUuv. Itacj 2JUO,
New York I lilruso
Boston Pittsburgh
Dlrrcl Private It'lrcs
jo.i:s jt UAicun.
Videnrr hlila,. I'hl'aitclphla. Pa
you may aend in )our booklet or
rmo iunKUiifi or titu Hto.u Alar
fame
ttdrtf
:., . .
Sil-T.L'
High Points in Today's Financial News
Heavy xcUlnu fnrvctt imnij tcailtnu nturhn to (irtr low iciorila Jor Ilia
Hear on the Xcw York rxvhmiiii'. I'lCxtutv continual on tlic Curb, iriti
olM Mtflrilni; mini. Oat mid valton liiihcr. Vorvliin nrhnnvr tent dull.
.Ill crUti illvtileml of I.; per will mn tlrrhrc-l t!l Ihr Victor Tntklni) Mtf
vtiliir ('uMjiuiij. liar silver irni uiieluimial In Xeiv Voifc and London.
l'F C?jtj rrrkc?4-irn c XJ.y
VOBb''011""0 iuT
fe: to invest
Send for Circular L 143
1A. B. LEACH & CO.
Au uuutir iiuiit
fc- rt The I'roirrn That lief I u re
' -"Tfou can't have our cake anJ eat It'
r BtArvtru iwi i"n iiivn liui dtivc
I Ixen lizard or.
-KS
TA Provident
f an1 Trust Company of Philadelphia
UUTH AP i-HKHTNITT ttTllUUTS
ruiviifcu lU
,'i 1.KOAI, AnVF.HTlSKMK.NTS
aKMTATK OF CIIAIILKM K. lll'l-
VI.OCK. decease Itt era testament
Lflbpon the mImjvm . estate havlnic been
Mt to the I'roWuenc L.fe and Trust
my oi i'niiHucii'nis, uu persona in
. to the satd estate are requested to
WVTneni. ami moiu iiuvinz claim to
. th. time, without delay, at thn nf-
ald company. -tUU Chestnut street.
Iphla. AHA S. WING.
IflUPHU
'IWTATK OF 1IKRMAN HORN. DF-
.eosaea Lrttara tratamentary on the
eatata bavin been (ranted to the
atnaa. an peraona inoeoiea to the aald
ire requerted to make payment, and
Mvins riaimB 10 preaeni ine aame.
delay, at the office of the corpora.
wntor eUV Cheetnut !.. Philadelphia.
v- mrtAii t. iiniiN',
JAJ1KN IIIIAVKV
flVIDRVT I.1ITK ANn TIII?T r-f.
OF PIIHDEI.PHIA.
;' . ABA J. W1XQ, I'reeldent.
1 Elecutore.
tfK THII.t. NATIONAL BANK
' miiMriiiu. Ar.E..iin-r mil. Jtflf.
.......I BJ-te,tl A 1-1I..L 111
iual Klecllon for Directors wilt be
Ik A Ha M If 1 nar tlniiaa ne l"aa.l.
Ml. I.la. between the hour, ot 12
IW .""; . ..
. u,-nwAriL Yirvi.yi5. uinier.
IV Or ACCUUNTAAfe)
i K..UTteun. C. P. A.
eaj .Salute Tru.t BM.
. nn'.
EnteHtrTlr daptBr
rWWfc Px Hi Tli. Key.tond
if Sip'evl' Company bJ declared
ieriy,atviaena ot 3 per
1 ot i-S oj;i pr cnt on
Ktcalio risulr nur-
' Mr ont'iB the eoni-
im MrM4
Dee.
I
IllBh
Muh (11,1 Jiliio. 5
Allli-t'liHlintTK. in
m ('nil .... a
Am t'ur K I'dy d-SM,
.ni Int Corp.. MVt
.Mil t'Jttnn on 13.U.
Low
Nil
chit.
'.4
Am
cl.
Am
Am
1 1 Id,. &
irf , .
l.lticecl
v,
1.1 li
nnn,
4l,i
34
l.l '.6
an;
'.4
l 1
BO1)', l-Ji
58 I
1'i
41 'MH JflU"1-.
UNDER PRESSURE
Oil Groups Continue Their
Downward Course Submn-
mino Ront at New Low
r. niiinj',
Hi i'
11i.1U .
N'i:W lolllC. Dec. 13.
; preiiure nRlnnt xlrtu.illv
Cllte IhHUCA nn lh i... l.
tiref no (IKY, '1nV?H"?,n! rt.jckx In Ktipply rro, st t. ;,.
1 l.oc IT- Vr 1 'Tl-.M'1 EVi!V"'i0 l,"u". .""Mtliiir tleplctlmi iif
Tlicr-"
ilL(tlic
XKff YOIIK. Doe. 1.1.
Tho pi lees for ninny of tho loaillnc Isims were nnlii forccil It)
new low records (or tho car In tiiila's tiatllim, with Hcthlehcm Sleet
11" inuUhiK a new low record liy ilcclliilnc from 71 " t T1!!. I'nltod
b'titlCM Slecl tomtnon nnn traded In on n l.ttKC nettle, nt timet hcllliiR lis
low 111 79?i, 11 new low record for the otir. (lenenit Ulectrk' fell nemly
4polntHtt)II8,iimliilo8iof8i pnlntH whs Htiatiilncd In Tent Company,
which fold down to llMVi. There uiih oiicclal Interest attached to a 4-polnt
drop In American licet HiiRiir to 03. 111 that decline occuricd when tho
broker btippo-cd to take tho most nctlo lntereit In Hie htneks wits In tho
crowd and did not offer mipport until after the Hint ta1o nan made
The declines to tho lowest lctels In the Kcnctal list tame In tho lato
afternoon. Trior to Hint tlmo there were frecucnt Intervals of KtieiiBth
and wealtne.sx, with a Rood ndviineu notid 111 the early traillin? when
Ktoeks Bencrnlly wild at tho highest levels of the day, United States Steel
common at tUtt tlmo behiR In demalul tihote S3.
There was nothing In the way of news developments 1111 which the
afternoon decline colli have been bayed, but brokers concerned In the
irndlnu Insisted that It was Kcnerally of a ctinriicter of foiced liquidation
due to a depletion of resources and a decrease of biijlnu power.
Tho Street had been encoiiniKcd In somo ileRiee by the fact that
jesterday'H dlstutbbiR reports wcro not continued lit thn nioinltiR news
cither from Vrniice or Wnshlnuton, but In the Inter Iradlns Httlo atten
tion was paid to tho war developments or propositions In regard to war
nnancliiB, and tho market motcments ncncially cecmed to bu Bocrred
by the results of losses In security dealings already Incurred.
I.lbcity 34s old at 08.52 to 8.r,0, mid the Is at 07-18 to 07.3R.
United States Steel 6s sold nt 07 and Chesapeake and Ohio Gs declined to
73. AnBlo-Kr-nch Cs wcro traded In at 85U to 8S.
Difficult to Convince Investors of Slock Values
It Is as difficult today to convince the Investors that securities that
wcro "Rood" when they were 40 to 70 per cent hlRlicr are now also pood
as It was to show them that the speculation of 1015 and 101(5 was danger
ous and might lead to disaster. TJils Is one of the many reaftms for
tho persistent weakness of tho market Ilalhoad shares, fur Instance,
linvo suffered heartbreaking declines this week on it volume ot selling
that In normal timet would not have created a ripple.
Issues like (ircnt Northern picfcncd, Atchison. Atlantic Coast l.lnc,
Illinois Central and many others have declined Unco to rcven and eight
points on an Insignificant amount ot helling. Hut when the holder of a
stock offcis it on the market he llnds no bidder: and under such circum
stances is foiced to lower tho pi Ice. Tho hamo holds true in many ot
the Industilals.
The sURgcstlon that the next dividend on Ameilc.in Tobacco common
will bo In scrip Is Interesting. Obviously, It has to do with a desire on the
pait of the company to eliminate so far as Is possible the need for new
financing to meet the maturity a year hence or the J25.000.000 acceptanco
credit recently negotiated. This Is a plan that might be consistently
pursued by some of the companies with obligations falling duo soon. ,
Situation of American Telephone
Weakness of American Telephone and Telegraph stock has been 0110
ot tho disturbing features of leccut maikets. It has been attributed to a
variety of causes, umong them a possible 1 eduction In tho dividend nnd
early maturity of securities. So fur as the dividend Is concerned, It Is
known that this year the company twlll cam at least 12 per cent after
the war tax. That therefore may be dismissed as 11 factor. Ah to maturing
notes, the fact appaicntly has been overlooked that the 140,000,000 lalsed
last year had exactly that In view, and Instead of $20,000,000 4 14 per cent
notes outstanding and maturing In l'ebruaiy. these have all been pur
chased and canceled. And Instead of $30,000,000 of sub-Idlrry company
notes, these have been reduced to about $10,000,000, which, If not paid oft
out of cash In treasury, should not constitute nn Insurmountable obstacle.
With the exception of January this year, tho output of gold nt tho
' Hand mines In November wns the smallest since Kcbrunry, 1015. The
amount was 722,830 ounces, as against 721,321 in January and C7C.221 In
February, 1015. The high tecoid for the year was one pf 787.004 ounces
In March. Tho money value of tho output for eleven months this year
was $170,255,000, agalrst $197,420,000 In the full year 1916 nnd $177,040,000
In 1014.
Sears Roebuck Now Around 125
Among the so-called "rich man's Investments" tho acute weakness ot
Sears Koebuck stock probably stands out as the most cunsplcuous. As
far back as In 1912 the stock was difficult to locate below 135, but there
seems to be an unceasing supply of It at existing quotations around 125.
which la the lowest level since. 1011. From the top tlguto of this year,
which, Incidentally, was also tho record high, the decllno aggregates 120
points and tho depreciation in market alue $81,750,000, or rr.oru than SO
per cent.
In less than a year the jleld on the stock has advanced fiom about
3'4 per cent to nearly 0V4 per cent. This Is one ot the most radical read
justments witnessed under the new Investment conditions. President
Locb believes the stock Is woith more today than befoie the decline
began, so far as actual soles and earnings of the company are concerned.
Net earnings this year, before allowance for excess profits tax, ha says,
will run ahead of all previous years, but what percentage of total icvcnues
tuxes will command Is the uncertain Item.
It is learned on Rood authority that tho results of the National Steel
Car Company for the fiscal year, which closed November 30, will show
tho company to have emerged safely from Its llnanclal difficulties that
followed the filling of orders for enrs for the French Government. The
company dld'not. make public Its condition nt tho end of 1910, but It is
felt that slnco tho United States Clovernment has favoied It with shell
contracts stockholders ought to bo enlightened on the status without fur
ther delay. Its plants nre said to bo well supplied with car ordeis and
aro also working on trix-Iijch shells for tho Muult'ons Hoard and the
Allied governments.
Dealers In publla securities fall to see a levlval of activity In their
specialties until tho financial situation Is more clearly defined. A heavier
inquiry for notes Is looked for ns soon as Government policies can bo
gauged with greater accuracy. The new Cities Service notes, icccntly
purchased In part by n Stock Exchange syndicate and offered on a 7', 4
per cent basis, are reported to bo going1 In fair quantity, although the
results thus far aro below expectations. Some new financing is said to be
under way, but will probably not be brought into competition with recent
offerings.
Sugar Content High in Cuban Crop
Oue impoitant feature of the general sugar situation developes In tho
announcement of a ctop authority In Cuba that tho first analysis of the
sucrose content of this year's cane crop, which haj Just been made, bears
out tho prediction of a sugar content much higher than last year. As a
verification of this. It was said that the first shipment of the rew crop,
consisting of 2800 bags from Central Halma, arriving nt Santiago de
Cuba, showed a yield of 9.82 per cent, as compared with a normal at this
time of the season of 8.184 per cent.
It was announced nlso that the weather is continuing favorable. In
all, the general crop situation was reported as excellent. Arrivals at ports
for shipment of the new crop totaled 6236 tons, as against 120 tons last
year. This Indicates the haste that Is being made In grinding and mar
ketlns the cane.
With an Idea of ascertaining sentiment in banking circles regarding
the announcement that the Government nnd Allied representatives, now
In conference at the Capitol over the sliver question, are considering the
adoption of the metal along with gold as a basis against note Issues, In-
"' tervlews were had with several leading authorities nt this center.
Views wero diversified. Some bankers could not believe that the largo
nations will resort to a blmonetary system no matter what the difficulties
may be, while others thought it Inevitable that another metal must be
chosen to supplement gold as a redemption basis, In view of the vast load
of flat currency that has been Injected Into the world's circulation.
Only a few bankers, however, seemed to think the question calls
for Immediate settlement. Because of this sentiment the reported dis
cussions at Washington aro not taken altogether seriously.
It was pointed out, too, that the United States and Great Britain aro
at loggerheads at present over the price at which the governments in
. question will contract for next year's smelting output of sliver."
The price ot clghty-slx cents has been fixed only tentatively. To sum
up the whole situation, U is quite plain that It the United States is not a
party to blmetallsm (he remainder of the world cannot hope, to maintain
uK a. y(iiwh,-,arid. from current repcrU Government officials are not
.Mil .tin l IIU. "'Dli' 'ou..ii. Vi J. s. .""-. " "'"-i icmiiiK-p icooiiiils. n
' do prcf .... filii ft I is 1 liiaST? '" them, stocks were alsn carried.
Am Smelting., ns "(i:Ti -l.-ti ' , ''Milos Itcs wns tradcl In on
Am Hum Toll., mtj,-' t,3 '(.JlV-- tt ,,7,5' Male' "'"if down to 7?; shortly
Am Steel Kdry S3 tK.-SV4 -MH hnV J'-"' '" " ',tJol(H' ul,l,M
Am Sugar .... om W. V, '. .on-lmf' ?, ?'"? ,l'aliT' tor so.,,., tlmo
Am TpI & Tel. mitt lnoii toiy, """""f.'V1
Am Tobacco ..1.1 1.13 1.1.1 .. Sl'.L """." tram M to 91 Ht,d Mel Ht.
Am Wool . . . a
Am W I'np pf. 30
Am Zino & I,., is
Amiuimla . . . .I..
i Atchison . . . . "li"!
.1. prof "Mi
, aii o & w i . oi,
Unhlwln l.oci. T,i
, Halt Oh!" . in'!',
Ilnrrett Co. . M!
llith Steel. . . .10
do 11 ()'!,
In prof tr. . . lit
Hrook It T 31 "t
Hums Urns . . In J 14
lluttp . S.U Cop l,Vi
Cat rctrnlcuin . tl
I do pii'f .IS'li
Catiaillni, I'a"..12S
Out Leather.. Si
Crrro de rnsro SI'',
("handler Mot. ns
ekes &. Ohio . t.ttt
fill it Wf-M . 1114
do picf . . I!)'1,,
C M & St 1' :im,
I do pref . . ns
I Chi & X W. 8K
C It I fc V tc. IS
I do fi pc pf 1 1- 31i
I do " pc pf tc 41'!',
fh I In Copi"r.. I. 1H
Chhio C Cop. .. 3!ltt
Col !' & Iron. . .11
Col (Jus ft HI.. SHJ't
Con Gas si
font Can so
Corn Products 2!
Crucible Steel .1,014
do pref nn
Cuba Cnno Sag io
do pref iji,
1M & Hudson 03
I) I. & W nn
Distillers' Sep ;n
Hile II
do 1st pref. . soli
(last Williams. 30
(Ion nice Co.. lit
, General Motors SOU
do prif ... . 7 1 '4
Goodrich II V ,11 14
Great North pf 8S14
Gt Nor Ore Still S114
Greene Can Cop ,17
Haskell ft Hur. 30
Illinois Central. 8704
Injplratloti Cop 1014
Interbor-Con Cp n
do pref .. II
I lot Mer Mar ldtt
1 do pref 8814
Intend Paper.. 33
1 Int Nickel . . . 8,1
1 Konaas City So IRTi
I Kenne Copper. 2ni
Lack Steel .... "7
Lehlsh Valley
.19
30
11
.13
1H14
7',i
SO
RO'i
1.1 '.4
K7
ni',
n:
w.l 14
.Kir.
ion
i.t
inr,
33",
mtt
7! 7
l.t
13'!.
014
IK
.1(114
n?
unit
17",
snn
in 14
i.iie.
lO'.fc
31114
21T4
son
so
SJU
4flli
X6
3.1 H
IOTA
11.1
170
2714
1314
Itftt
30
lis
SIT,
71
3.11,
H2tt
2.114
.17
SO
87
38
0
mu
1 1 '.4
8.
2214
SI 14
IS 'A
30
7.1
SI
V,
.1!)
211
tl 14
S44 4- 14
71114 r 'e
1814 II.
0014 ..
-I !
A 1 14
inr,
87
!'.
07
37
10714
IS
II
32',',
127
IS 14
27
03
13
, 14
8
tt
07
so y,
Uli
.17
4014
MIA
30 tt
31
SU-
8014
80
'.'.
i I
I-
4. 114
4 tt
-l't
IV
-I
I- "A
1 14
-I- 14
li
14
1
declining riom IS'S to IB!
Submarine Hoat on a tew sales, sold
at the now on- lecord of 11U Cos.len
()l dropped from G'i to 61,; Dklabomn
sold at oT. i Osage ut 6T8 and Northwest
at II to 51c.
There was heaty trndlng hi Nlplsslng
which was Influenced by the knowledge
of the (Internment arrangements for
bu.tlng silt or. ami that stock was ij.
ceptlonally strong, tidumclng from1 8
to 8,.
Other mlnhnr slocks worn geiierallj
ewer. There was heavy selling of Calu
nift and Jerome, which sold down fimn
1 U to 15-in.
IMII .STUIAI.N
Aelu.i i:plosi, cs. . ..
Am Itrlt .11 fg
Amor .Marconi
Amor Writing Paper. .
Air Iti-diii'lliui
Caii.iiliii, Car Co
Can c.ii , .-dy pref..
CImico.iI lion
Chetrolet Molot.s
Clamp
Curtlss Aeioplnne . . .
I'aiwen Tool
Calbon Kt.el
Hniersun I'liom
Federal !
Ilrnilec Mfg
Inter-liiibe
Kntho.llou Itronze pf.
l.ai.e Tor II0.1t.
214 114 1 Lehigh Coal Sales.
1714
8A
sm.4
1)3
170
28
1314
20
30
1 1 11 14
81
71
31
8.1
2114
37
20
M-y,
.10
II
1714
8014
2214
21
11
5!
SI 14
.
10
4 I
I
2
-I 14
- 14
- Vm
f 1
Lima Loco. .
I Maxim Munlll.ns. . .
Marlln Arms
, N V Shipbuilding. .
N A Paper Pul
otls Gletjitor
Peerless .Motor
Poole Hug
Hidden Tiuik
Scrlpps-linnth
I S S KiesK.. i
Standard .Motors....
.Steel AIIo.m
t ' Mihmiiiliip
u St JiiKcph Lead
Vi I Todd Shipbuilding. .
, I Triangle Film
nAl Fulled Pi out Hilar..
T, U S Steanislili
I lilted Motors
I'nltod Sugar
World Film
Wrlght-.Maitln .Mr..
'Sine Concent
Iil.l
7
.1
3"',
no
11
to
no
10
2S
8
14
r.
IS
10
'tJi
1
T.4
6S
40
14
80
30
'.'14
Hi
so
is
.1
no
1
7
11
is
08
1
14
30
Y. si. . I...
Anl s..l.-)
Hi
n
3
:t
1o
20
so
7 54
(13
7.1
SO
0
18
A 14 '
30
'i
10
43
03
.13
21i
40
12
1(1
10
70
8
iili
10
73
1
"h
1414
3.1
14
Hi
20
0
2V4
'3
li
S
1414
'
tt
STAMtAiiii (III,
Llg ft M Tob pf. 100 14 100 ino'
Louis & Nash. 10714 l".1 I00H
I Max Motor. ... 21 21 21
do 1st prof.. r0 SO
do 2d prof.. 18 1714
May Dept Stors 43 43
Mox Petrol.. . 72 08
Miami Con Cop 20 3S
M ft St L new. 8 7
Mldtnlo 13 40
Mo Kan ft Tex 4 4
Missouri Pac.. 33 3114
I do pief. 38 37
Mont Power. . r,i) nn
Nat Acme. . . . 211 2B
I Nat C ft C . . 31', 3114
Nat Kn ft Stpd 32 32
National Lead. 4l"i 4014
Nov Con Cop 18 17
New O T ft M. 17 17
N V Air Hrake 101 100
N V Central . . 07 fl.1
N VN II ft H.. 3814 S8
j N'nrf ft West.. 08 OS
North Pac .... BOi 78
Ohio Gas . . .3.1 3'J
Owens Hot (1.1 S3
PeuiKi II It ... 41
Peo Gas ft C . . 30
Ppre Marq w I 1.1
Phlla Co ... . 34
Pitts ft West. 20
Pitts Coal ... 41
Pressed StI Car r.n
Pull Pal Car. .108
Ily Steel Sprg. 40
Hay Con Cop. . 31
.Heading (10
do 2d pref . . 31
I Hop Iron ft Stl. 71
Hoyal Dutch . . n7
1 Saxon Motors
Seab A Line pf 18
I."
-I I
1
so
18
43
00 1
2S
8 "i
41
4
21
38
00
20
31
33
40
18
17
100
S
38
118
U li
''
14
1
74
iiIlnolA 180 100
Ohio 383 380 21
Praliio Pipe 330 237
Stand Oil Cal sos 310
Stand Oil N .1 80 400
Stand Oil N Y 333 235
iMii:iT,Mii;.M nn, stocks
Harnett Oil ft Gas.. 1
Cosden ft Co '. s A
lClk Ilasln .iy, 11
Federal oil 354 314
Inter Petrol 1114 13'
Houston Oil 30 21 :
Morrltt Oil iny, 17
MldwVst Oil on 02 I
Met Petrol
Ohio Fuel 14 17'
Oklahoma Hef 8 S
Osage Hominy s 0
Hlce Oil a-33
Sapu'p.i Itcflnliig ... s 8i
Sequoyah
Sinclair
United Wet Oil
13
; Soars-Itoobuek. 128
1 Hhatturk Ariz. 17',
Sinclair Oil . .
j Southern Pac .
I South It U ....
, do prof
Studebaker ....
1 Sup Stool
, Term C ft C w I
1i
10
33
13
42
34
ny,
43
30
13
24
10
38
SO
101
30
21
0411
3.1
nx
nn
n,4
1li
12514 1
17
2.1
17
211,
S3
10
33
11
1.1
3314
S3
43
.10
13
24
2014
41
SO
J0714
39
21
08
33
10
on
1
18
21
II
23
7114
33
.13
11
33
1114
1S
214
li
Texas ft Pacific 1.1
Texas Com ...130 131 131
Tobacco Prod .44 43 43
Fuderw Type ul
, Fit H ft P new 30
Union Pacific. 101
Unit Alloy Steel 3114
1 Unit Cigar ritrs S3
J ln Drug 2d pf 1.1
I United Fruit ..113
Unit lly Imcst s
. do pref 12
USC Ir P ft F 1014
U S Ind Alco.,100
J U S lluhber ... 4n
do 1st pref . . 0.1
I U S Smel ft Hef 43
do prof 43
U S Steel 83
do pref . . . .
Utah Copper .
Va Car Client. . 31
Wabash 71,
do pref A ... 38
do pref H... If)
West Union Tel 82
Wcstlnghse Mf 3.114
Woolworth ...100
Wheel & Ij 13,. 8
Wilson Co ... 43
White Motors . 33
Willys Overland 17
' SAM. C.n.pll S
01
so
104
3.1
81
IS
111
414
11
10
103
4.1
S3
43
43
, 10
104 103
11 1.1
.10
114
31
1S
82
34
100
8
4514
34
II
33
.Ml NINO
fAt, Alaska Standard ....
1 Atlanta
nig Ledge
Hlsbee Cop (11 pros).
Hutte Cop ft Zinc. ,
Hutte New York
Cal ft Jerome
Con Ariz
Kmma Consolidated..
Denbigh Sliver
First National
Goldflold Merger . . . .
Goldfleld Cons
Goldfleld Floronco . . .
Goldfleld Hew anas ..
Green Monster
Hocln Mining
Howe Scund
independence I,cad...
Jerome Verde
Jim Hutlor
Jumbo lCxtenslon... .
'J j McKInloy Darrngh. . ,
2" , Magma. Copper
Mother I-ode
2 1 Mines Co of Am
J" "7 Neada Hills
""", Nevada Wonder
' 'Nlplsslng
' ' Ohio Copper
- I Hay Hercules
Y San Toy
Stewart
y1 I Tonopah Intension, .,
' United Verde
West Hnd Cons
14
IS
0-32
STOCKS
. A
. 8
. 1 14
014.
-14
11
1
2
114
IS
10
1
ny,
1
1
1.
2
14
1A,
3
1
I
1A
1)1
SOTi
ion
?' T ' . White
75
113
A
13
10
103
li
03 1
43 1
43
Hl
103
10
30
714 14
31 1A
10
83 3
35
100 ..
14
43 1
34
"
33 1
10
4
114
3
4'
A
13
12
A8
3114
21
114
A
1
H
u
3
10
7-33
14
33
en
Oaks 3
White Caps 1
I VerhiKton
Hctblehem 5s. .
Cosden Oil Cs. .
, Cosden & Co Cs
10
1IONQS
9814
70
70
Cudahy Cs 01
Hussion Got o'js,,, so
Russian Got C',43... 4(1
Southern Hallway Cs. ti3
14 , Sinclair uu us 03
Todd Shipbuilding Gs. 00 100
is
6
1A
4
314
3
1A
7A
14
01
39
38
1
1A
Hi
8-
13
3
II
0-33
74
3.1
70
1
07
1.1
IS
07
411
SO
00
1ft
n
2
11
31
11
93
ft
6
8
"
S
1
"(1
"4
1
1.
414
11
14
58
3114
28
8
14
3
31
07
I Sales in Philadelphia
N't
lllall. I.OY. Close. ChK".
Allln Ins .. .. tl'J
40 Am Sims 33 32 3S.
loll ft S pt ill, (II l .
loo llrlll J G. 10 10 in ..
Con T N.I .. .. tR,.4
81 Hlce Slur liy, 17 41
suollile .... 13 13 13
. n In Co NA 2l"i 341', 24 ..
Key Tel in
Son l.k Sup C 10 10 10
401 l.o!t Nnv. 58 .11 ,11 I
31 do rts
1st pf. Ill', ll'Ji 111', 2
so Leh V11I.. APJi A1 .11
Mlnelilll t.11
011 Pernio Hit II 4.1 13
Pa S.t t M . . . . t1
30 Phlla Co
eiiiiipf. 38 38 38 I
1 .1111 Phlla Clec 24 331, 321', H,
2301 P It T t c 2.1 2.1 2.1
ins Heading . nn ni ooi', -I-
21.1 Ton llel.. 3, 314 3,, ft
011 I'll True. 38 .11 31
30.1 F G I ... 0.1 n.1 11.1 14
F Cos N'.P . . . . t'lo-l
(1008 I H S'tcel 8311 H'li 81 nA
2 do pref . 103 10.1 103 n
loWIIIs-ov m io io
21 W.l ft S. 43 4214 I'lli li
3CO W O.unp 74 13 1314 I 1
SEVERE LOSSES ARE RECORDED
BY MANY STOCKS ON LOCAL 'CHANG!
Philadelphia Electric and Rapid Transit Certificates
Attract Most Interest' the Former Losing
1 Points P. R. R. at 43
ttjuotatloii git en Is cstcrd.i.'s cloe.
Intnl sulrs, 1.1 08 lmrr. i.m.pirril will.
II.S.'S el.Mres .irstenln. I tint fur IM week, ,
ll.li.ll -lurr-l eillnr period In st rrk, 3I.IHII
lmres
ll((M)S ,t '
lllltll. Low. Cl,f.e . liKe
$201111 City Is
1017. .. 07 1)7 9? Hi '
1000 131 ft Poop
Tr Is.. 12 13 12 ..
S0IHI Key Tel
1st 5s no tin no
81A0 Lib llonds
Tjs.. ns.sn 118.31 ns.so i ,n
258(111 do 4s. . Ol.fil) 07.20 91.20 , .10
30100 I'll l3leo
lFt us 9.1 9.1 01
Set ore losses weie recorded on tne
Phltadolph'n Slock llxchango tlurlrg the
nflcrneoti Irndlng, f.ilowlng small de
clines curly In the day, and the market
was brcudor than It has been for some
lime.
Philadelphia Ulectrlc nnd ltapld Tran.
sit lriit i-rllflciites were by far the
leist netltn of the home shores nnd both
were lower. The former sold off 1;
1 olnts fo 22 i, a new low record, and tiho
Transit certificates dropped Vj n pf.lnl
In 25 There was also much more ac
tit lly than usual In the nieclrlc com
p.uiy's bonds nnd the first fives were a
lllllc lower wllh a tiirnnter uggregatlnn
$30 000 it s'lort tlnie l.efore the close.
No speclH. niti'o could be found hi
the Street for the weakness nf the Phlln
dtlphla Ulectrlc slock, but the now soil
ing of Transit was attributed largely to
me announcement that there had been
di'-agroenicnt In Coune.ls on the proposed Ipriccs
lease tvh'ch would. In all probability,
delay Its final pisMiRC
l.pi "-41.,, .r'or Corporation wns - nt
the few home stocks that recorded gains,
that Issue advancing a fraction on n'
falr-slrcd turuiiter. 'olilgi NntlBit'o
slock lost a full point, w-hl e the rights
w. re down m r? 1'rin 2 points. '.' .iric
Storage Hattery was unchanged. Tone
pub Hflmont gained n trifle and Ur.lted
(las Improteincnt lijtt n quarter. ""
ittllio.tda sagged him',ii, Pcnr.sJ Ivaiiln
losing a dollar to 1.1, n new low record
price; West Jersey nnd Seashore H,
nnd Krle a frutlon. Heading was lower
nt one lime, but recotered .the loss nnd
ndtanted "l..
A loss nf I: was marked up ngulnrt
Union Tractor, William Cramp ndwtnced
1 'j and Philadelphia Company cumula
lite prefemd '(t a point,
Steel common was oft more thnn S
po'lnts nnd ".ho preferred declined t
points to 103,
Liberty llonds wero quiet nnd most
trni.sactlons were nt csterday's last
New York Bond Sales
74,1
I'.'W.
Close
SI
ml.
ss
S."
Mi'.i
sa
si
77
H3
74!i
tin
Tol il Miles, SOO.ISn. rnmpnreil with 810.3IM)
jr.lcnl.iM thus fur this week, SlU.l.lSOi
Mime period Inst week, 1122,200,
Local Bid and Asked
Tod.iy
Hid ..,(
Mneilian Morrn... So 01
llrlll .1 .1 Ill 17
HuOnlo H. Susu t i .. CD HI
flu pref 17 4'i
ll.ldnln .',!'. Sin.
Kl,f Irtr Hlon.Ro. . . . 4ilVji 47li
.ienernl Ariiluilt. ... II 1.,
,!n pr. f All .VJ
k. etone Telephone. II lo
I., t I.O l'.:i
l.ntte Superior Corp 10!J 10
l.nlilt-li Nntlsatlon.. .17 ss
l.ehluh Valley . . . si'i at,
IN nnlvHiiln 13 4.T.
I'hlid.le.phiit r.let . -y."i 3.11,
I'hlln.lelphla Co 24', Wi
il. II per rent pref 2" 20
I'hllrfrlelphla I1TI i- B.1 2"."-
ttrndlni; lim, l,(',ij
Tonopah llelmont.. 3ti 3m
Tenopi.b Mininir. ... i, .",
lnlnn Trarllon ... 37 .IT1
Cnlte.1 (lnj Imp.... 0.1 ilVS
I'nllpil Slntes steel. St, SI'n
York lty K I.
do preT ...... .10 .12
IV Cr.unp Sons . 73 7.'
Ycsterdn
llld .Mi
I i .Is 1li.1I . .. sip', sot, SO'J
t'.-llt Lilltll. r lit ,'s 112', 112'. IttJ
i C.nt It It N J Ss lot', tai4 ini!
i chin cop 7s .. no 'no no
72',i
.17
MH
03 U
7l
OfllJ
:ii
n;
in
i. n
411
SO',
4.1'i
II
r.n
n
no
10'i
ss
si';
43
21',
T.i
'.
Ill
a
4
37
.1 ,
S.'
s
3D
71
31
1,
111
111
sn
17
1.-,
S2
10
in
in",
55'.
"4
s.y.
as
irni
0
32
INACTIVE PIIILA. STOCKS
Following nre quotations for Inac
tive stocks listed on the Philadelphia
Slock Uxchange and In which there
were no transactions today. The price
glen is the last previous close:
Am (Ins War.. I'.i
Amer Mill .... In
Am Storm pf.. 1)2
imrr ti Hum t c so
Com Iron .... 4.1
em steel . . ltn
.Jen Aapnalt
l.lt Proa BS
l.llllo Srhuilklll r.l
Nxirth Cent . . 77
rmia o .
Phlla Trnc
i' II T
14T4 Itu-i' Co lien
.-.Ols. Tnn "Mtn . .
Kev T.. pref.. SI IVarwIek Iron..
I.eh Val Trans 27'i Went Coal
I.eh Val Tr pf. 3S York nwy pf..
Oen Aiphall pf.
;;s4
"4',
s
14
32
LOCAL MINING STOCKS
TO.VOPAlt STOCKS
Hid
Urn Ilutlcr 72
MneNamnra IS
Midway (M
Mlrpnh Kxlrnslon 04
Mortann ns
Northern Star 04
Iteieue Gul.i OS
West Knd 05
,k '
.7S
.IS
.07
01
.11
.05
.10
.(IS
... Hleh Low
17200.1 Artlo-I 'ren.h Ss . ;.', s,
laiino Am I m Ii7ii it..- :, mi. pit.
m-iiii Am. r Hill a IJ. f .-, S.T, M
'.'Hill An,, r T. I .It Is . S2 S2
1200 1 .,i :, . . , . no spit
imsni rmiir Co I'.js . sl'j, s.i
Hi(ioi) Atililson Kin 4k m", s
"eon .In n Is 'fill 111 711
10'MI II ill t. Ohio 4 . 77 77
JIKI'I II.-I11 Sll let Ss "80 -.: 77
innon iirwi. it T Ss "is i.Ti
33.11111 lli,l.leau .Is ... 75
-olio Cin (loll Ss '20 . tie,',.
,,"H,
111.10
tOllOO
2.OOII
11.000 Che . .1 conv Ss 7.1 K
noon Chl C Alioi. SHa. lis
ttnnn chl tit Went 4 . n.ni
siinnn c n t o joint 4s ojij 112 n'i
AOlli) O MHt P conv 5sSt; 7i 7iJ
. ' vv I'll..,, 111 , ins. .11
Mlno Col A South 4'i r.'H.
40.100 city of Paris (is 7
B'OOll Con (las conv 0s tllli
lono Cumh Tel 5? . lit",
.'.lino Cerro do Pnaeo n. 1113
2000 Ilia Hoe Corp fin 7n
mum Hrlo cont Is Her II .I'll-,
100(1 di rnnv 4s SVr 1) 41
Sinoil French Itepul, S',s III',,
.Him) Cen Klee .lei. Ss ni
Minn Indiana Hte. 1 Si. nil'.,
Union tntorli Met 4'ta ,-,2
520011 inter!) II T r.-f Sa 7s
2lnoo Inter Mir Mar H
moo iiiicrnl Paper 0s Ino
17O00 JiipnnrM,. 4'i a . Im
inrio ilu nru (! a M, ti 7.1
noon .in new 4',s .. no
Uino I i sh iiei, l Mi. s.i
nnoenn l.llierlr 3s . 08 ni
1310100 .In 3.1 4 . . . 97.48
112000 I.vona lis 7.1
211100 Msr"cll,..i Ha , 74',
,4111.0 M.t T. 1 Ss . . Ilia,
'2IXKI Met IV H Chl Ss M,
Kinoil Mo Pac w 1 'SO sn
3non do b ni l . . , s:t'i
limn Monliuia P Sa NS
.nnno .v y c s. li ob .s,
lllon do l . . 7S
r.ono v v ciiv 4'. 'in on
13000 N- v nwy ad I Ss . IN
1000 N V Tel nen 4Us S.1,
Solid X r IV U ft II 4 !, 40
1.1011(1 Nor Pac la ... ivji,
inoo do 3a .. r,s;
inoo Pnelllc Tel Ss. . nn',
11(100 Pennn iren et 4'i a ssv,
2000 Pub Sen- N J Sa. 71
lo ion Poea Col 5s . . sr.H
'oi") IPadlnn Ken !. . . hjS
270(io Ht I. H P Her A St
loon do Ser II ..on
(..ion Henhril A L ndj Ss 47
4.100 do e!n 4h .. . 70',
2don South pe ,-, .... nm
KKlllfl South !'.., 4.... lioij
11000 do c Ss S7K,
4nil0 do rfd la .. . 77K
4nnnn South ity ten 4a . S7
loon Te-. co .is 17
lonn Toklo r, . , . in";
4700(1 u H llubiier Sa 7.1
snnn di n im
nnoon v s sie.i a f Ss 117'i
,JSn' Union Pnc IM 4a . m
nnno ,i P)t 4 si'i
172000 r ! nf (J ti j .i nm;
moon d.i su, huh .. ,nti,
2.innn ,in .-,',, mm . niv
1.1A00II .lo SUa 10IO neic nMi
I.sonn do 54 a 11121 ... m, nn
mnn vn Coe cn os... OTU nm
7000 West l.lec Sa . . . n.V, il.1'i
COVERING BY SHORTS
HELPS COTTON PRICE
Market Closes Strong, With
Final Quotations 21 to 50
Points Net Higher
50',
.111 I,
734
TislJ
HI,
102
7n
t'
in '4
p ,
us
si'i
77i
Ml
Inn
tin
7.1
mi
S3
08.53
07.38
74',
74,
nnv
s.t 4
en
B2i
SS
8S
7S
nn
17',
NS.
40
S3
:.
nn'i
sn,
7S't
8.14
R-'S
Al'i
on
471
70!
nt4
nn4
874
77i
574
"7
7IIS
Tt,
Ino
,n.i,
sit
814
nnv,
mm
m4
os 4
ni".
1112
70
ani
43
li.tld
01
ns
ViSj
sn
Inn
On
nil
s.i
08.53
07.40
74',
74.2
nn,
S3'.
so
52 1;
SR
SS
78
nn
is
ss,
41)
82
RSJ,
I0,
Mis.
7S'4
S.-4
f.1
"'.
-7
7(1'.
niw
nn J
874
77"i
S7s
n7
704
744
inn
07
80
si 4
nnv,
nnu
mis
o:
so
llT'i
nsl.
GOI.DFIEI.t) STOCKS
Atlanta 08
lllue Hull Ot
Pooth I3
Dlamondneld I It ". . ,01
Paloy 02
Kewnnaa 04
Oro ill
Hnndatorm Kendall oi
Slher Pick OS
MISCEM.ANECfUS
Arlmna 1'nlted IS
Nevada IVonder 1 SS
Tccopa MOilng 2D
90JJ
38
30
.10'
02
.05
.02
.03
.on
.02
.02 I
,07
21
1 .10
.25
.,TJ?L.Znr,. 1.OS3.000. romnnre.1
;J3"; jestenlnxi Ihua far this
J"322.00i ,, vrtlo(l latt ,(p,ki
wllh
week.
III,-
General Electric to Expand
N13W YOHK. Hoc. 13. A circular has
been sent to stockholders of tho Gen
eral Ulectrlc Company, together with a
proxy for use at the special meeting
of stockholders on January 3 for the
purpose of acting on nn Increase In the
capital stock from $105,000,000 to $125,.
C00.000.
Liverpool Cotton
I.IVKHPOOL, Dec. 13. Snot cotton
wns quiet today on the basis of 2:.31d
fot middling old contract, on upturn of
15 points,
Bank of Enpland Statement
LONDON. Dec. 13. The weekly state,
nient of tho Hank nf Hnglnnd follows:
Total reserve .13.037.000, decrease
1229,000: olrculatlnn 43.934,000, In
crease 206 000; bul Ion 57,511.000. de
crease 23,000; other securities !91,
536.000. decrease 2C3,O0O; other de
posits 123,152,000. decrease 12,48C,000;
public deposits 40.41C.OOO. Inrrenso f!t .
958,000; Government sccrultles 57.859,
000. decrease 8,017,000. The proportion
of the bulk's reserve to liabilities Is now
19.60 per cent, against 18.75 per cent
last week, and compares with a decline
from 22.30 to 21.79 per cent In this
week last year. Tho clearings through
tho London banks for the week were
um.wu.uiiu, against 414.490,000 last
" " "oj.uuij.uuo in this week last
; uu.
Man Ends Life in Stable Office
John Ifageerty. slxtv venrn nlrt c..,-
The sales were 2000 bales mltted suicide today by InhAllmr .i.
The Imports -were 13,000 bales, all Amer- nitlwc gas In tho office of the stabut
lean. Futures wero quiet in the early tof William Wilson. 1645 Comae street,
dealings. Spot prices were: American, Uaggorty hnd no homo and had been
middling fair, 23.52d; good middling, allowed to sleep In the ofnee by Wilson
22.8ia ; mitiuung, 23.31.1; low middling,
-1.79(3 ; gcod ordinary, 20,79d; ordinary,
20.2-d.
COTTON IIR1.T M BATItr.n, CONDITIONS
, M'AV .CHIK. Dec. 13. The foUovsIni
teniperiittirea were recor.le.1 In the fntlan
belt IhU morntnet (Iktnhoms, 4t Alillenei,
IOi Kort Smith, I3 AsheilMe. 18t Knot.
villa anil Memphis. 8 Rolelnh. 3in llras
nnrc ami Nishillle, 2li Hhrrveport. At.
Iiintn nn.1 ttllmlnaloii. 2At AusnstA. 21
Macon, 30 1 lllrmlnclinm, 33i Monleomfrr,
Charleston nnd Nnvannali, 34l Pan An
tonlo, Del Ills nn.1 Thomaarllle, 8i Me.
Mle, 40 I'ensocolii, 4lMkaolivllle and (h,l
veston. 42i New- Urleana, 4A i'orpua
Ihrlalf, .50. .
mere was .oi inrh or precipitation at
ita
I
t
New llrletiitN, .iterldl.sn
nnd Riilef&l.t
larkso.ivllle nml
inoiiinsvme.
Moron. Anaiitl
.
.04 ni t nariesien
.Savannah and
.10
.10
NI3W YOHK, Dec. 13.
Good itdvamrs weie scored In the cot
ton market today due mainly to covering
of shorts. At nno time prices closely
followed the load of the stock market
nnd In the early afternoon, wh'i the
latter was weak, Wall street selling
caused reactions.
There was southern hedge selling dur
ing the session, but It was nnt large
and nt the end pi Ices wore 21 lo 59
points net higher.
The slight early set-back was fob
lowed by a t-harp advance, with Jnn
uary selling up to 29.40c nnd May to
29.03c, or nbout 20 to 35 points net
higher.
The southern hedge selling, reported
early, seemed to soon run Its course
ntheiwlse there was little pressure, und
when recent sellers turned for covet
prices responded readily.
Hepnrts that nu embargo had been
placed upon shipments i f cotton to
New- York until stocks hero were re
ducod by exports worn circulating, nnd
probably accounted for boine of the
huv-lng of January.
Hocelpts nt the ports for the day 'are
estimated at 20.000 bale-", ngnlnst 24.140
bates n week ago and 25.9U2 bales n
year ago.
Y. sti'riliy'a
clod Open Itltlh Low Close
DlseinlHT 211 Pll 211.110 SD.3', 2H till .10 22
January 2n.ni) 20.211 21). ts 2H.1.1 2li.4n
.Mnrcn ....... .-s.i,,, :-,.,, .i,,.i n.r- .,,
May 2N.72 2S S2 20.03 2S.n7 2S.D.1
July 2S.40 2S.S.1 2R.72 2S.I0 '".Til
Hixit sn.a. bu.iv
Drovers and
Merchants Bank
3014 MARKET STREET ,
Statement ut the l lose of llnslneas
Drrenilx-r II. 1017.
RESOURCES
Cash on Hand and in
Bank $102,806.89
Stocks and Bonds 104,888.25
Loans nnd Discounts 458 744.71
Ofncc Fixtures 700.00
$667,139.83
LIABILITIES
Capital Stock $100,000.00
Surplus Fund .10,000.00
Undivided Profits 5,767.19
Deposits 551,382.60
$667,139.85
ERNEST R. I'ATTON,
Cashier.
KUIIKI, I.KIIM. sir.. ITealilenl
FKANK V. 1'I.ARK, 1st Vice lTeslltent
Ml R1.KS W. II1I.IIK1IAN. 2d Vice Tres.
KRMT R. rATTl. s-anmcr
Refined Sugar Unchanged
NKW Yrt)HK. Doc, 13. Ueflned sugan '
aro unchanged with the American Sugai
Company quoting at 8.15. The Pennsyl-1
vanln nnd the National companies quoted ,
nt 8 36. The Federal and tho Warner '
companies and Arbucklo Brothers re-1
main withdrawn. Haws, unchanged, nt ,
C.27. The International Committee made
no purchaseo of raws on Wednesday. j
1812
BAR SILVER
w Tork
(f4-nui . . . -."
I J-ondon (pence) 42 T -I
I.nst 1017
TtwUjr Ypp, Thura. Illch rmv
V -Ti J.c,i 71 K
t jyt. r.s 'tin
wiT
42,
S.I
iMrr ifee .
v-
&
Total ailes. 7.17.HOO ahnrea, compared with
71.1 300 shares jrstfrdioi thus far tills week,
2.274,700 shafrsi ajme period lait week.
1, 061,300 shares.
Ex dividend American Woolen, Pi ;
American Vo,oien rrcfirrcJ. 14. i
Cotton Buyers and Sellers
NI3W YOHIC. Dec 13 January Mar- ,
tin and Cone bid; McKnany and Dawns
offered. ,
March It. Hubbard, Martin and Set-1
lar bid; Urooks, Ilartcorn, Munds, Hub.'
bsrd and Geeran offered.
May Hagedorn. Henti, Itu Hubbard. I
W, Gumoens nnd Glfford bid; Ityman,
Downs, Hantell. F. Ilartcorn, Hubbard.
McKnany and Wiggins offered.
' July McKnany and Kelffer bid :
Young, Krecman and V. Ilartcorn offered. '
October Hubbird, Cone, Schley and
Segal bid ; Parrott and V. Ilartcorn '
offered. I
I Paris Bourse Quiet
' I'AIUS. Dec, t3. Trading on the1
Boureo eras quiet today,
CONDENSED STATEMENT
FIDELITY TRUST COMPANY
PHILADELPHIA
t close of buoiness December 11, 1917
RESOURCES '
Caih In Office '$1,774,237.19
C.h in Banks 3,823,467.90
Time and Call Loans 15,689,343.48
Mortgages 6,221,300.00
Bonds and Stocks 26,521,661.17
Real Estate ' 870,387.66
Accrued Interest . 245,697.37
, $55,146,094.76
LIABILITIES
Capital Stock $5,000,000.00
Surplus Fund 16,000,000,00
Undivided Profits 1,774,632.74
Current Income 234,130.23
Miscellaneous 728,533.66
Deposits 31,408,798.13
$55,146,094.76
Amount of Funds Held in Trust $221,986,775.79
WM. P. GEST, GEO. H. KYD,
President Treasurer
, , li I I ' " ' Ml, ,
t SInjA rA,-.s.,.w - . v. - . . ..
THE
1917
Pennsylvania Company
For Insurances on Lives and Granting Annuities.
TRUST AND SAFE DEPOSIT COMPANY
Broad Street Office, 517 Chestnut Street,
Chestnut and Juniper Streets. Philadelphia.
At the Close of Business December 11,-1917.
RESOURCES
Cash on Hand and in Bank $6,236,468.08
Loans upon Collateral '. 21,530,254.29
Investment Securities 5,726,231.02
Reserve Fund for the Protection of
"Cash Balances in Trust Accounts" 5,501 ,PP4.'3
Real Estate .' 933,235.0(1
Interest Accrued 232,290.12
Expenses and Taxes Paid in Advance 57,651.53
Miscellaneous Assets t 222,880.71
$40,500,995.88 -LIABILITIES
, v
Capital Stock 2,000,000.00
Surplus Fund 5 000)000.00
Undivided Profits : 468,506.18
Deposits 32,917,865.88
Interest Payable ' 111,587.82
Miscellaneous Liabilities 3,536.00
i
$.0,500,995.88
TRUST DEPARTMENT
Trust Funds i . 230,486,529.05
Corporate Trusts .-79,636,561.30
C. S. W. PACKARD. C. S. NBWHALL,
President. Treat urtr, , ..
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